Dorchester Minerals (NASDAQ:DMLP) Issues Quarterly Earnings Results

Dorchester Minerals (NASDAQ:DMLP) issued its quarterly earnings results on Wednesday. The energy company reported $0.59 earnings per share (EPS) for the quarter, Zacks reports. Dorchester Minerals had a net margin of 37.53% and a return on equity of 17.76%.

Dorchester Minerals Price Performance

NASDAQ DMLP traded down $0.84 during trading on Wednesday, reaching $26.10. 241,733 shares of the company’s stock traded hands, compared to its average volume of 161,116. The company’s 50 day simple moving average is $27.40 and its two-hundred day simple moving average is $24.89. Dorchester Minerals has a 12-month low of $20.85 and a 12-month high of $28.95. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 22.50 and a beta of 0.56.

Dorchester Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 4th will be issued a dividend of $0.475 per share. The ex-dividend date is Monday, May 4th. This represents a $1.90 dividend on an annualized basis and a yield of 7.3%. Dorchester Minerals’s dividend payout ratio (DPR) is presently 163.79%.

Institutional Investors Weigh In On Dorchester Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in Dorchester Minerals by 5.4% in the first quarter. Royal Bank of Canada now owns 74,470 shares of the energy company’s stock valued at $2,240,000 after buying an additional 3,785 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Dorchester Minerals by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 35,684 shares of the energy company’s stock valued at $1,073,000 after buying an additional 2,101 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Dorchester Minerals by 59.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,175 shares of the energy company’s stock valued at $35,000 after purchasing an additional 440 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Dorchester Minerals during the second quarter worth approximately $293,000. Finally, JPMorgan Chase & Co. grew its position in shares of Dorchester Minerals by 17.0% during the second quarter. JPMorgan Chase & Co. now owns 10,815 shares of the energy company’s stock worth $301,000 after acquiring an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 19.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Dorchester Minerals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Dorchester Minerals currently has an average rating of “Hold”.

About Dorchester Minerals

Dorchester Minerals, L.P. (NASDAQ: DMLP) is a publicly traded master limited partnership that acquires, owns and manages mineral and royalty interests in oil and natural gas properties. The company holds net revenue interests on producing and non-producing wells, entitling it to a share of production proceeds without bearing the costs or operating responsibilities associated with exploration and development activities. Through strategic acquisitions and joint-venture arrangements, Dorchester Minerals builds a diversified portfolio of royalty assets across multiple U.S.